Meeka Gold Ltd (ASX:MEK) has reported a 33% increase to its landholding in an emerging rare earths province in WA.
The company has been granted a new exploration licence for its wholly-owned Circle Valley project, which hosts shallow, high-grade rare earth mineralisation — up to 36 metres thick — within saprolitic clays.
In addition to rare earth prospectivity, Meeka’s new tenure covers two major, regional shear zones on the margin of the Yilgarn Craton — both highly prospective for Tropicana-style gold mineralisation.
Picking up the pace
Speaking to the grant, Meeka managing director Tim Davidson said: “We have significantly expanded Circle Valley by securing the interpreted extension of the saprolite clay horizon to the north.
“This clay horizon is prospective for high-grade rare earths.
“Importantly, the new tenure also covers two regional shear zones on the margin of the Yilgarn, both highly prospective for Tropicana-style gold mineralisation.
“In addition to expanding Circle Valley, work continues to advance at an uncompromising pace and we anticipate reporting 16,000 metres of rare earth assays over the coming two months.
“We also expect to receive gold assays by mid-June 2022 from Anomaly A, where drilling tested strike extensions to the broad zones of high-grade gold mineralisation.
“Finally, ANSTO has informed us that the rare earth metallurgical test work is progressing to schedule with results expected in late July 2022.”
Rare earth and gold bounty
Meeka’s new ground encapsulates the northern extension of Circle Valley’s clay-hosted rare earth horizon.
In the past, explorers have encountered shallow, thick, high-grade rare earths on the property, including:
- 12 metres at 715 parts per million (ppm) total rare earth oxides (TREO) (40% magnet rare earth oxides (REO)) from 8 metres, including 4 metres at 1,269ppm TREO;
- 36 metres at 672ppm TREO (32% magnet REO) from 12 metres, including 16 metres at 1,098ppm TREO;
- 5 metres at 1,040ppm TREO (30% magnet REO) from 36 metres, including 4 metres at 1,177ppm TREO; and
- 36 metres at 672ppm TREO (34% magnet REO) from 28 metres including 12 metres at 1,003ppm TREO.
The tenure also covers the highly prospective Cascade and Bishops Hat Shear Zones – targets for Tropicana-style gold mineralisation.
Material gold intersections at Circle Valley include:
- 23 metres at 5.09 g/t gold from 13 metres, including 10 metres at 9.35g/t;
- 16 metres at 3.06 g/t from 32 metres, including 4 metres at 10.8 g/t; and
- 10 metres at 4.72 g/t from 120 metres, including 4 metres at 10.20g/t and ending in mineralisation.
Next on the agenda
Meeka has a busy few months ahead as it advances activity across its polymetallic portfolio.
Over June, it plans to release:
- gold assays from its Circle Valley RC drilling program;
- a presentation to The Australian Gold Conference;
- assays from the remaining 16,000 metres of drilling for high-grade rare earth mineralisation at Circle Valley; and
- a forward activity plan targeting the highest value zones of mineralisation at Cascade.
Next month, Meeka plans to release its gold findings from the Murchison Gold Project, as well as its quarterly activity report.